Nurix Therapeutics 2025 Q3 Earnings Deepened Losses Amid Strategic Clinical Progress

Nurix Therapeutics (NRIX) reported fiscal 2025 Q3 earnings on Oct 09th, 2025. The results revealed a significant drop in revenue and widened net losses compared to the same period in 2024. The company continues to operate at a loss, with a 76.5% year-over-year increase in net loss. Despite the financial challenges, Nurix highlighted substantial clinical advancements and a robust cash position to support future development.

Revenue
Total revenue for Nurix Therapeutics declined by 37.3% in 2025 Q3, settling at $7.89 million compared to $12.59 million in 2024 Q3. The entirety of the company's revenue during the quarter came from collaboration activities, with no license revenue reported. The decline was primarily driven by the conclusion of the initial research term for certain drug targets under the collaboration with Sanofi, partially offset by a higher percentage of completion of performance obligations from the collaboration with Pfizer.

Earnings/Net Income
Nurix’s financial performance deteriorated further in 2025 Q3, with net losses expanding to $86.42 million, or $1.03 per share, a 76.5% increase compared to $48.96 million, or $0.67 per share, in 2024 Q3. This marked a 53.7% wider loss on a per-share basis, continuing a streak of losses for six consecutive years in the corresponding quarter. The results underscore the company’s ongoing challenges in achieving profitability.

Price Action
Following the earnings report, Nurix’s stock exhibited strong post-earnings performance. The stock price surged 8.28% in the latest trading day, 19.60% over the most recent full trading week, and 18.04% month-to-date. These gains suggest investor optimism despite the financial setbacks.

Post-Earnings Price Action Review
Nurix's stock saw a significant rally in the period following the earnings report, with an 8.28% increase on the day of the announcement and broader gains of 19.60% across the week. These gains reflect a positive reception from investors to the company's forward-looking clinical plans despite the financial losses. The momentum continued with an 18.04% month-to-date increase, highlighting strong market confidence in the company's strategic direction and pipeline potential.

CEO Commentary
Arthur T. Sands, M.D., Ph.D., president and CEO of Nurix, emphasized the company’s strategic momentum and progress in advancing its degrader-based therapies. Sands highlighted the initiation of pivotal trials for bexobrutideg in relapsed/refractory CLL in H2 2025 and outlined a path for potential accelerated approval via a single-arm study followed by a confirmatory Phase 3 trial. He also underscored the company’s progress in autoimmune drug development, including the IRAK4 degrader GS-6791 in collaboration with Gilead and the STAT6 degrader with Sanofi. Sands expressed confidence in Nurix's ability to establish degrader-based therapies as a new standard of care in cancer and autoimmune diseases.

Guidance
Nurix expects to advance into pivotal trials for bexobrutideg in the second half of 2025, with plans for a single-arm study for potential accelerated approval and a randomized Phase 3 trial for full approval. The company is also enrolling a Phase 1b cohort for patients with CLL and autoimmune hemolytic anemia and conducting healthy volunteer studies to support a potential autoimmune IND in 2026. Forward-looking plans include continued clinical updates for bexobrutideg and the expansion of its degrader pipeline across multiple disease areas.

Additional News
Recent business highlights include the initiation of pivotal clinical trials for bexobrutideg in relapsed/refractory CLL, the presentation of preclinical data for GS-6791 at the EADV 2025 Congress, and the presentation of encouraging Phase 1 data for bexobrutideg at the SOHO 2025 Annual Meeting. Nurix also reported a cash and marketable securities balance of $428.8 million as of August 31, 2025, which it said positions the company to continue its clinical development and strategic collaborations. The company continues to advance multiple degrader programs, including collaborations with Gilead, Sanofi, and Pfizer, and plans to provide further updates at key industry meetings in 2025.